Daily Economic Roundup – October 28, 2010

What’s on the Economic Horizon
U.S. Jobless Claims Expected to Reach 453K
U.K. House Prices Down by 0.3%?
Japanese Manufacturing PMI and Inflation Data Due

United States

Score another one for the scrilla! Improved sentiment on the dollar and slightly positive economic data in the U.S. energized the currency bulls enough to push the dollar higher against its major counterparts for another day this week. EUR/USD dropped by 86 pips to its closing price of 1.3767, while USD/JPY ended the day 20 pips higher at 81.70 after hitting an intraday high of 81.99. More…

Euro Zone

As if Tuesday’s loss wasn’t enough, the euro forged a new week low against the USD yesterday as investors continued to cut back on their short positions against the USD. Mixed reports that leaned towards the negative end of the spectrum also kept the euro from holding its ground. At the end of the day, EUR/USD closed 86 pips lower at 1.3767. More…

United Kingdom

The pound hit the pause button on its rally as it tasted its first loss for the week against the Greenback yesterday. Words of concern from the BOE and Greenback strength held GBP/USD down, forcing it to drop from its opening price of 1.5840 to end at 1.5765. More…

Japan

Except for AUD/JPY which plunged after Australia released weak inflation figures, consolidation was the name of the game for most yen pairs yesterday. That was probably because most yen traders were sitting on the edge of their seats waiting for the Japanese retail sales figure and the BOJ rate statement. More…

Canada

Yeouch! The Loonie lost against its major counterparts yesterday despite the absence of economic reports in Canada. USD/CAD rose to an intraday high of 1.0340 before leveling off 47 pips higher than its open price at 1.0288. Meanwhile, CAD/JPY plunged to an intraday low of 78.94 before ending the day at 79.42. More…

Australia

AUD/USD sank down under yesterday as the U.S. dollar flexed its currency muscles, pushing the pair down to a low of .9669. AUD/JPY had a rough day too after it broke below consolidation near 80.00 and slid to the 79.00 area. More…

New Zealand

Up, up, and away! Surprising as it may sound, the Kiwi flew even though the RNBZ decided to hold rates steady at 3.00%. NZD/USD hit a new weekly high as the pair climbed an awesome 45 pips to perch at .7480. Who says Kiwis can’t fly?? More…

Switzerland

Zzzz… It was more thrilling to watch Frank-n’-Furter on Glee’s Rocky Horror episode yesterday than the “frank” counterpart in the pip charts! The lack of reports from Switzerland limited the franc’s moves and pushed EUR/CHF only 12 pips lower at 1.3639, while USD/CHF climbed by 54 pips to .9909. More…